DislikedMy elliot wave count is correct and i have no doubt about it,if you have studied the Elliot wave princeples you would find it correct too but at the end of the day we all look at charts differently , i have no doubt that the last move was wave 5.
As for Barak's question, after wave 5 comes a 3 move correction knows as A-B-C moves...these moves can expand to form 3 different formations known as:
1: Zig Zag
2:Flats
3:triangles
i expect to see any of these 3 formations and then a bounce from the 610 possibly.
Elliot's wave principles are very complex and are a subject to be studied carefully before followed,they can be very handy but i dont suggest that anyone follows my setups or charts, it was just an opinion not a recommendation.Ignored
I personally would label your wave 3 as wave 1 of 3 and your wave 5 as wave 3 of 5. In either case, whether we look at your count or my count, the next move will be a correction to the downside.
I hope you don't feel I'm being rude, but I thought I would point this out as it is not a matter of opinion, but of Elliot Wave rules.
Good luck.
-G550